India's SPIC rises most in over a year on Q2 profit jump

Southern Petrochemical Industries

03/11/2022 08:51

** Shares of urea manufacturer Southern Petrochemical
Industries Corporation  SPIC.NS  rise as much as 16.5% to 61.8
rupees, its sharpest intraday gain since May 11, 2021
    ** Stock hits highest since Sept. 20
    ** Stock set to rise for second straight session
    ** Co nearly doubles quarterly consolidated net profit after
tax (PAT) at 1.14 bln Indian rupees ($13.76 mln ) vs 615 mln
rupees a year ago
    ** Revenue from operations in the Sept-quarter rose to 7.08
bln rupees from 6.16 bln rupees a year ago
    ** More than 3 mln  shares change hands by 0825 GMT, 8.4X
30-day avg of 355,207 shares
    ** Stock down 4.5% YTD up to last close
($1 = 82.8750 Indian rupees)
 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com ;))